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Jerry owes $2000 at the end of 4 years and $5000 at the end of 8 years. At the end of 3 years, Jerry comes
Jerry owes $2000 at the end of 4 years and $5000 at the end of 8 years. At the end of 3 years, Jerry comes into some money. By mutual agreement with the lender, Jerry is allowed to pay off both notes at the end of 3 years using 12.5% interest compounded quarterly in the settlement. How much is required to settle the debt at the end of 3 years?
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